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INFO2020-09-01T23:34:06+00:00

INSURANCE INSIGHT

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FAQ’s

Why will there be an audit?2019-05-27T18:02:58+00:00

Audits are very common in insurance.  Many policies require an audit as the premium rate is based on a fluid number such as payroll or sales.  The initial quote at the beginning of the policy term is an estimate or best guess for the coming year.  Since Workers Comp is a required coverage when a business employs workers, premiums are rated and based on anticipated payroll.  As this is a mandatory coverage that few business owners (if any) relish paying, audits are used to verify the correct premium is paid to cover the risk exhibited with the employees working.  There are several ways to make the audits less troublesome, give us a call to go over these.

What is Employer Liability Coverage & do I have to have it?2019-05-27T18:03:18+00:00

In California, Employer Liability coverage is commonly packaged together with employee protection in a Workers Compensation policy.  So, yes – as Workers Compensation is required by law for any employer in California.  Employer Liability covers the employer from liability in the event an employee is injured on the job.  It is an important part of WC to insulate an employer from liability.

Does General Liability insurance cover all liability?2019-05-27T18:03:26+00:00

General liability coverage is the broadest liability coverage available, but no it will not cover all liability.  Each carrier will add their own exclusions to coverage that differ depending on industry and specific risk.  Professional, Cyber, and Product are specific types of additional Liability coverage available to supplement a general liability policy.

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